[August 11, 2014]PARIS (Reuters) - Growth
momentum in most major developed economies is stable
although Germany and Japan both show signs of losing
steam, the OECD said on Monday, as it flagged a
turnaround in growth prospects for India.

The Paris-based Organisation for Economic
Cooperation and Development said its leading indicator covering
33 member countries was unchanged in June at 100.5, above its
long-term average of 100.

The indicator, designed to flag turning points in the economic
cycle, suggested there was "stable growth momentum" in the bloc
of mostly wealthy developed nations, the OECD said. The
indicator has been unchanged at 100.5 since February.

However, growth was losing momentum in Germany, where the
indicator had dropped to 100.2 in June from 100.4 in May, and
Japan, where it fell to 100.1 from 100.4 the previous month.
Italy's growth momentum improved, to 101.7 from 101.6 in May.

Among major emerging economies, the indicator for China was
unchanged while India and Russia had seen slightly improving
prospects for expansion.

The outlook was stable in the United States, with a 100.5
reading unchanged since May. The OECD said the euro area showed
stable growth momentum, with the reading unchanged at 101.0.